Genius Wealth Building System: JARS Money Management For Financial Freedom

0:00 Welcome to The Unapologetic Man Podcast, the only podcast that's all about self-improvement, confidence, success, women, and being a man without making any apologies for it. What is up, guys? Thank you for tuning in to another episode of the UMP. I really do appreciate you listening. And today we are going to talk about the JARS money management system. Now, a lot of you guys, when you hear the word money management, you turn pale, you want to puke, you want to run away with your tail between your legs.

0:37 And how do I know that? Because I used to be that guy. Anytime you would mention financial help, CPA, financial advisor, I'd be like, man, get the hell away from me. I don't want to talk about that shit. It just stresses me out. And I know a lot of you guys have that, but if you had the courage to click on this, even though you may be suffering from the fear of money, the fear of money management particularly, I tip my hat to you, brother. That's another feather in your cap because you are a goddamn champion and you need to smack yourself on the ass so hard when the concussion hits, you get launched upwards through a skylight.

1:11 For the rest of you guys who are really interested in money, I want to do a little disclaimer here. I am not by any means a money professional. In fact, I'm just now getting my money situation in order, my financial house put together as it were, and I've been having really good success with this. So while I might not be a financial advisor, while I might not be a millionaire yet, I do feel I can speak on this with some authority because this has worked really well for me.

1:39 I'm talking really, really well and it evokes not only the law of attraction, which says what we focus on expands, but it also just allows you to get a lot more emotionally comfortable with money because rather than money ruling you, living paycheck to paycheck, stressing out, wondering how you're going to make those next bills. You instead have control over your money and you do that by managing it very intentionally, by paying attention to it, by looking at it, by focusing on it, it will not only expand, but now you'll have power over it and then it becomes fun.

2:13 Just years ago, I used to absolutely hate money, would avoid it, would never look at my credit cards, never look at my bank statements. And now I literally look at them every day because it excites me. It excites me to see my net worth growing. It excites me to manage it in this way. And what's really cool about this system is it allows you to have fun while at the same time safe. So let's go ahead and jump into the content. Okay. First and foremost, the jars money management system basically means that you're putting your monthly income into jars, meaning you're splitting it up in certain ways that you're going to use both for your financial freedom in the future, as well as investing, as well as having fun with your money today.

2:54 So this is a little bit difficult to explain because all of us have different financial situations. You might be working a job to which you have a steady paycheck that comes in every month. Whereas with me, I get different amounts of money every month. My revenue is completely different because I'm an entrepreneur. I'm a coach. Every month, it's a little bit different. So it's quite a bit harder for me than it is for most people. But what I'm going to do is explain the basic general way that most of you guys will use this.

3:21 And then at the end, I'll kind of explain how I've tweaked it for myself and how it's been so unbelievably effective. Okay. So let's go ahead and take a round number. Let's say you're making $10,000 per month. Now, whether you think that's a lot of money or a little bit of money is just all perception. But I think $10,000 is nice to work with because I think it's something most of you guys would like to make and that most of you guys can realistically achieve with what you're probably doing.

3:46 If not now, then years down the road. But $10,000, honestly, you know, not to sound cocky, but when I pass that number and I'm making much more than that, it doesn't really feel like a lot anymore. And that's the thing is money is all perception. It's all about what you think is a lot. And if you don't think that's a lot, then you're probably going to make more than that. So $10,000 is a nice round number. Okay. And what you do is you're going to divide that up into certain buckets or as T.

4:07 Harv Eker calls jars. Now, one thing I forgot to mention is this is T. Harv Eker's concept, which was introduced to me for the first time in this book, Secrets of the Millionaire Mind. I've mentioned it before. Absolutely phenomenal book. I cannot suggest it enough. It's probably in my top five reading. And somebody asked me the other day, what are your top five books? Eventually, I'm going to do a podcast on that. Okay. So we have different jars and you can imagine them as like strawberry jam jars that you've cleaned out.

4:42 And let's say you have 10 bucks, which represents the $10,000. Okay. So you have six jars that you're working with. Okay. So the first jar is necessities. Now, this is all assuming after taxes. Okay. So in most of your guys' cases, taxes are pulled out of your paycheck. So you don't have to calculate taxes. But in my case, I have to calculate taxes. So what I do is I take my revenue and then I put aside 25% for taxes. And I'll explain why it's 25% in a minute. So immediately I take 25%, chop it off the top and I put it in its own bank account.

5:13 And then every three months I pay estimated tax payments. So from 10 grand, you want to see what your necessities are. And if you don't know what your necessities are, and that's things like rent, food, electricity, bills, your cell phone, shit that you have to pay every month. You should really get that down if you don't know. I mean, I want you to know within the dollar, right? Usually you can guess that. Of course, electricity changes, but you can really get it close. And it's your job to know exactly what that is.

5:42 I suggest Google spreadsheets. That's what I use to manage all my money. It's free. It's easy to use. Check it out. Okay. So you, you determine, let's say that your monthly expenses are $5,000. That includes rent, food, everything like that. Now you have $5,000 left over. Okay. You are going to divide that $5,000 into five different buckets. So the first bucket is long-term savings for spending and unexpected emergencies. So what you're doing is you're constantly saving for things like big purchases, rainy day fund, vacations, and emergency medical expenses.

6:18 You're putting 10% of what's left over into that bucket. The next bucket is the play bucket. And this is the fun bucket because you're taking 10% of what's left over after you take care of your necessities. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over.

6:35 You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. You're going to have to spend 10% of what's left over. This is because if we get locked into too much saving, too much investing for the future, then there's a part of us that comes out and says, nah, man, this is too strict. This is like too anal, too frugal. Fuck this. And then you go and blow your money. But then if you get too spendy and you're spending all your money, then there's a part of you that feels guilty inside.

7:02 A lot of you guys are probably experiencing this. And then you'll never want to save because you just feel horrible about all the spending that you do. And you don't even want to look at your money. So a lot of you guys who don't look at your money, I can almost guarantee you're frivolous. You're spending your money. You're not responsible with it. You're probably in debt. And if you're in debt, you can still do this as you pay off your debts. And I'll get to that in a second.

7:25 But let's just go over the basic jars premise. Okay, so once again, after your necessities, that's rent, food, electricity, bills. You got your long-term savings for spending. 10% goes into that. Now, under the example, we have $5,000 left. So 10% of $5,000 is $500. $500 goes into there. $500 goes into the play account. Okay, you get $500 to just blow. And you're going to blow it on cocaine, hookers, methamphetamine, and fentanyl. Get out there and get after it, my bro. Just kidding, obviously. You're going to blow it on things like getting a massage, going to a nice dinner, whatever it is that makes you feel affluent.

8:07 And remember, I talked about this in my Law of Attraction episode that you want to do certain things that make you feel affluent. I talked about how Marissa, for my birthday, got me a $600 fountain pen. Well, that was taken out of her play money fund to hook me up and make me feel affluent. Each month, I have a certain amount of money that I spend on things like fountain pens because I'm really into them. I get massages. We go out to nice dinners. We'll stay at the Ritz-Carlton.

8:32 This is the way to make us feel rich. And when you feel rich, as I've talked about, you attract richness. And that's another purpose for that play account. Okay, the other 10% goes into education. Okay, that's coaching, mentoring, books, and courses. Here's the truth about how you are as a human. You are the mechanism that dictates the results of your life. So if you don't fix the mechanism, if you're not constantly getting coaching, constantly working on it, fine-tuning it, fixing those things that are broken, you are not going to get the results.

9:05 I can tell you with utmost certainty that when I started investing in myself, which is what I call it, by hiring coaches, by doing NLP, by buying books, getting into programs, getting into brotherhoods, whatever it was, and I continue to do so now, I put part of my revenue into that, I have become so much more successful. I have more money now. It seems like every dollar I spend into coaching, five come out the other side. Why? Because a large part of my coaching is fixing the bullshit in my head.

9:33 And if you're the mechanism that determines the results you get, why wouldn't you work on the mechanism? You're not going to become rich until you've reprogrammed yourself to think rich. Think and grow rich. Remember that book title? That's literally how it works. So 10%, and this is suggested not only by T. Harv Eckert, but also myself, into coaching. If you want to get coaching with me to finally be able to attract the woman of your dreams, check out my website, CoachMarkSingh.com. Click on coaching. Fill out the short form.

10:02 You and I will get on the phone together for a free breakthrough session, and we'll talk about reprogramming the mechanism so you can get the best results possible. All right. The next bucket is the financial freedom account. Now, this is stocks, real estate, investments. You want to put 10% into that. Okay. So I suggest Fidelity.com. They have really good investment accounts. I'm also getting financial services by Ameriprise. That's where my financial advisor is. You can invest with them. But when it comes to investing, keep it simple.

10:32 I suggest the S&P 500. If you're in the American stock market, it's really effective to just basically give you a pretty good, secure, estimated return on your investment each month. And again, this financial freedom account is long-term. Okay. So with the current example, you're going to put 500 into that. And now there's the part that most people hate, but I find it one of the most fulfilling parts. You want to put 10% into charity. If you hadn't listened to my podcast, The Law of Attraction, five secrets. No one wants you to know.

11:04 No, no, no, no. You should really do that. Reason being is I talk about how there was this millionaire who tried to give away all his money. And at the end of his life, he died with more money than when he started trying to give it away. What does that tell us? When you give money away, it comes back to you. So every month, I want you to donate what you can to charities. Whatever charity resonates with you, whether it's animal-based, children-based. I like the Wounded Warrior Project.

11:32 I like charities that deal with drug abuse users because my best friend from childhood is homeless and addicted to drugs. So whatever resonates with you, that's what you donate to 10%. And if you're uncomfortable with that, start with 5%. Okay. So the basic premise of this is you divide your money each month and you spend it only on those things which are intended for that bucket. So when you're saving, sometimes you can feel like, ah, I'm being too frugal. I'm being too much like my parents. I want to just blow the money.

12:01 And then oftentimes people will go into their savings account and just blow the money on like a Bugatti or something stupid like that, right? But when you allow yourself that play money, you can feel affluent. You can feel like you're having fun and just blowing your money. But at the same time, you're saving it. It doesn't have to be one or the other. It can be both. It can be both. You're also given to charity, which invokes the law of attraction. That which you give comes back to you.

12:25 And by the way, when you designate money to charity, that's a tax write-off. Why give it to the government when you can give it to a charity? That's my personal opinion. So I give 10% and then that's 10% chopped off my taxes. Also, quick side note about taxes is, yeah, taxes are painful. You know, they are. But the way I look at it, and this is the way you have to live as an unapologetic alpha silverback man, is you have to reframe it in your head or you're just going to get pissed off.

12:53 If you think your taxes are being wasted by the government's stupid decisions, you're going to be pissed when you write that check. When I write my tax check, I literally feel good. Why? Because the way I'm looking at it, bro, is I just bought a tier one operator, either in Delta Force or DevGroove, SEAL Team 6. Some brand new nods. You know those ones you see on Call of Duty that have four pillars coming out of them so you can see peripherally? That's what I just bought with my investment.

13:21 Oh, I also bought a Sig Sauer P226 9mm. Maximum effective range, 60 yards. Oh, and I also bought a Heckler & Coke 416 AR-15, the same gun that killed Osama Bin Laden. Oh, that stealth helicopter that went in on the Bin Laden raid? Yeah, basically my funds train the guy who flew that helicopter. You're welcome, America. You're welcome. So that's what I think of it, man. I'm buying all kinds of cool shit. All kinds of tanks and fucking Blackhawks and Little Birds. I'm funding freaking Delta Force, the Army Rangers.

13:49 Shit, I even bought the sniper rifle that took out those Somali pirates. The one who took out the first guy. I didn't buy the other two. The first one, I bought the scope for that. That was all me. So you can thank me later. And that's the way you got to think about it. All right, so let's go over the buckets again. And guys, if you're serious about saving money, I want to tell you this. What you focus on expands, okay? So you got to be down to the penny accurate with how much money is coming in, how much money you have in your buckets.

14:15 And a good thing to use that I use is called Splitwise. Splitwise. So what I do is I load up my play money into Splitwise each month. And I don't really load it up into there. It just calculates how much money I have. So I call that fund Rodrigo Von Play money, okay? And I load it up with however much I get that month because, again, my income is different every month. So obviously, my play money is different. But from the month before, let's say in October, I get, I don't know, $10,000 of play money.

14:48 I don't usually get $10,000 of play money. But let's say I do, okay? $10,000 of play money. And then what I do is I load it into Rodrigo Von Play money. And then each time I purchase something for fun, a fountain pen, a night on the town, whatever it may be, I just put it in there and I take it off. So it's continuously minusing until I get to zero or there's a little bit left. Then I put more in. So that's the way I basically manage my play fund.

15:14 When it comes to taxes, I pay estimated taxes every three months. So right off the top of my revenue, I take out 25% as advised by my CPA. Should be 35%. But since I'm donating 10% to charity, I designate 25%. Goes right into my taxes bucket. Every three months, I send an estimated tax payment. Now, I know exactly to the dollar almost how much my funds are for each month just to live. I have a woman who cooks my food. I get the cleaning lady coming. I get my car waxed and polished every month.

15:48 Things like cell phone, electricity, mortgage, all that stuff. I have it pretty damn well calculated. I take that off the top and put it into X bank account. Now, from the rest of it, I divide it up. Once again, 10% long-term savings, 10% play, 10% education, 10% financial freedom account, and then 10% to charity. And then I crack a charity check every month at the end of the month. Feels really fucking good. I tally up how much I made. I crunch all my numbers and then I send off that check.

16:18 Sometimes I do it via website and it feels really good. You know, you get like free t-shirts and people thank you and your name goes on the side of buildings. Firework displays are made in your name. And of course, songs will be written about you that will be sung around campfires for generations to come. So that's the money management system, guys. I know I went through it really quickly. But the basic premise is this, is you have to reward yourself while at the same time saving.

16:40 Now, that begs the question, what if I'm in debt? If you're in debt, you should focus almost all your expendable money, like 90% of it, whatever you have left over after your living expenses, into paying off that debt. You got to get out of debt first and then you divide it up. However, you can do this with $1. If you think about it, you could do it with $1. You take 10% into this, 10% into that. Yeah, it's only 10 cents, but at least it's something. There are stories in T. Harv Eker's book, Secrets of the Millionaire Mind, where this lady had like no money.

17:11 She was actually in debt. She was barely making anything. And he says to her, well, can you at least do it with $1 a month? And she said, yeah, I could do it with $1 a month. And he's like, do that. So she starts doing it with $1 a month. And then the next month, she's like, I can up this to $5. Next month, she ups it to $10. Next month, she ups it to $20. You'd be surprised that when you start focusing on it, when you start dividing it up, no matter how small the amount may be, you're going to attract more money.

17:35 You're going to feel good about money because you're in control of it. And then once you're in control of it, trust me, a lot more comes into your life. So you guys who are struggling, I suggest you do this. And you guys who are doing well, but blowing your money, like some of you guys are doing really well, but you end up with $0 at the end of the month. You need to take a long, hard look at how much you're allowing yourself to spend on bullshit, on bullshit that you don't need.

17:59 Like in the movie Fight Club, we work jobs we hate to buy shit we don't need. There's a lot of truth in that. There's a lot of truth in that. I personally feel that nice things are nice, but I don't want a lot of them. I just want a few extremely elegant, nice things. And that's it. I'm not surrounding myself with crap I don't need. You see people buy crap they don't need all the time. I mean, Instagram, shit. How many times have we been lured in by one of those damn awesome advertisements?

18:26 Next thing you know, you're buying some pair of pants from China and they arrive and it's a complete piece of crap, dude. So if you're making a lot of money and not able to save it, this is probably why you need to get disciplined with your money, divide it up intentionally what you focus on expands. If you don't have money, this is probably even more important because what you focus on expands and you need to start managing it so that when you manage it, it grows.

18:51 If you're in debt, then you should basically just work on getting out of debt, focus on getting out of debt. And maybe you give yourself 5% play money. Okay. You put all your money after expenses into debt, then you give yourself a little bit because you need to have fun. And then once you're out of debt, you really start focusing on this and what you focus on, as I always say, expands. One last thing about how I manage my money. It's a freaking David Hasselhoff, but I finally figured out how to do it.

19:17 First, what I do is I pull taxes out. Then what I do is I pull out living expenses. Then from there, I do the 10% buckets, just like I explained. And what I get is dictated by the previous month's revenue. So that's personally the way I do it. It works really well for entrepreneurs. And I do. I invest in coaching. I really do. 10%. I mean, I told you guys I invested $20,000 into a business coach. That came from that fund. I was saving up in that fund. And once I had the 20 Gs, I dropped it on him.

19:45 And he's been a complete game changer. Ever since I changed my business models, my revenue has skyrocketed. I have more time to meet more of you guys. And if you do want to meet with me, check me out at CoachMarkSingh.com. Click on coaching. Read what that's all about. I offer a program where I help get you attractive to women, as well as fix the bullshit in your head, such as money beliefs. Money is evil. There's not enough money. Money's hard to get. Money equals stress.

20:11 More money, more problems, right? If you say that, more money, more problems, big problem. That statement right there is the problem. Money doesn't grow on trees. When in fact, it does. It literally does. So there's a lot of limiting beliefs that people have. If you're interested in this stuff, I cannot suggest that book enough. Secrets of the Millionaire Mind by T. Harv Eker. I really like T. Harv Eker. I'm actually going to invest in some of his other programs. I just found them and look, I have money to invest in that because I put money aside for my coaching and I'll tell you, when you build the mechanism, when you fix it, Jesus, the sky's the limit, man.

20:45 You can do anything. You get hotter girls. You get more money. You get more happiness, more peace. Yes, your life can get that good. Maybe some of you are struggling right now. You don't have much money. You don't have much success. I'm telling you, it can get that good. It really can and I'm going to do a podcast on it that it can get that fucking good. But what you focus on expands. So you got to start looking at your money, bro. Log into that account, dude.

21:09 Blow off the dust off your books and crack them open. Get it done. Trust me, you'll be thankful you did. All right, guys. I got another awesome podcast dropping on Monday. It's called The Beta Male Downfall, Cynical Superiority. I got tons to say on the topic. I actually was taking notes about it today. Got a couple pages of notes here. Something I've been thinking about over the past two weeks. Something my uncle, that cynical uncle of mine said, which I want to tell you guys about.

21:36 He called you creepy. My uncle called you creepy, bro. And I'm going to explain exactly why he said that about you and me. Mostly me. But also a little bit you, dude. He like smacked me on the ass and then it deflected off my ass and hit you in the ass. And you were also punished for my malfeasance. Fucking guy called us creepy, dude. I'm going to tell you exactly why he said that and why he's peanut butter and jealous of both you and me. Because we're fucking champions who work on ourselves and improve ourselves by self-development and focusing on what we want to expand.

22:08 So tune in for that if you want to hear all the juicy drama about that whole shindig. And I really appreciate you guys listening. Can't thank you enough. Stay tuned. I got another one coming. And I will see you in the next episode. We'll see you in the next episode.

This transcript was made automatically, so a few words may be off.